Korea Aims to Double Oil, Gas Self-Sufficiency

By

Min-Jeong Lee

June 16, 2011 7:21 a.m. ET

SEOUL—South Korea aims to nearly double its self-sufficiency ratio for oil and gas to 20% next year by acquiring new energy assets, an upward revision of a previous 18% target, the Ministry of Knowledge Economy said Thursday.

In one of its latest attempts to boost energy security, the resource-deprived Asian country announced that it will target a significant increase in its ability to meet its own demand for natural resources...